Grant GrossMendelsohn LLC Sells 708 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Grant GrossMendelsohn LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 18.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,166 shares of the information services provider’s stock after selling 708 shares during the quarter. Grant GrossMendelsohn LLC’s holdings in Alphabet were worth $599,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. LMR Partners LLP bought a new position in shares of Alphabet during the third quarter valued at $32,000. Denver PWM LLC increased its stake in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares in the last quarter. Quarry LP purchased a new position in Alphabet in the second quarter worth about $53,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Alphabet in the third quarter worth approximately $66,000. Finally, Mendota Financial Group LLC grew its holdings in shares of Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after buying an additional 64 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the sale, the chief accounting officer now directly owns 17,847 shares in the company, valued at $3,468,029.04. This trade represents a 13.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,387 shares of company stock valued at $24,368,654. Insiders own 11.55% of the company’s stock.

Alphabet Trading Up 1.6 %

Shares of GOOGL stock opened at $196.00 on Monday. The stock’s 50-day moving average price is $184.43 and its 200-day moving average price is $173.34. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $201.42. The stock has a market capitalization of $2.40 trillion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 1.22 and a beta of 0.98. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the company earned $1.55 EPS. Equities research analysts predict that Alphabet Inc. will post 8.03 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GOOGL. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Thursday, December 12th. Royal Bank of Canada raised their price target on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. KeyCorp boosted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, January 10th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.15.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.